Myer – David Jones merger won’t work, say analysts

Analysts say that Myer’s merger approach to rival David Jones was driven more about concerns over the future of the retail industry than any growth opportunity and wouldn’t have delivered the savings Myer expected from the move.
Myer confirmed on Friday that it approached David Jones with a confidential non-binding, indicative merger proposal on October 28 and said David Jones formally rejected the proposal on November 27. Sydney Morning Herlad – Read more…